Whales with a lot of money to spend have taken a noticeably bearish stance on Enovix.
Looking at options history for Enovix ENVX we detected 17 trades.
If we consider the specifics of each trade, it is accurate to state that 47% of the investors opened trades with bullish expectations and 52% with bearish.
From the overall spotted trades, 5 are puts, for a total amount of $483,455 and 12, calls, for a total amount of $744,534.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $7.5 to $20.0 for Enovix over the last 3 months.
Volume & Open Interest Trends
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Enovix's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Enovix's whale activity within a strike price range from $7.5 to $20.0 in the last 30 days.
Enovix 30-Day Option Volume & Interest Snapshot
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| ENVX | CALL | SWEEP | BEARISH | 07/19/24 | $11.00 | $181.9K | 4.0K | 2.9K |
| ENVX | CALL | SWEEP | BULLISH | 07/19/24 | $15.00 | $165.5K | 9.8K | 3.8K |
| ENVX | PUT | SWEEP | BULLISH | 07/19/24 | $13.00 | $122.0K | 6.0K | 594 |
| ENVX | PUT | SWEEP | BULLISH | 07/19/24 | $13.00 | $115.2K | 6.0K | 881 |
| ENVX | PUT | SWEEP | BULLISH | 07/19/24 | $13.00 | $106.5K | 6.0K | 1.1K |
About Enovix
Enovix Corp is engaged in the business of advanced silicon-anode lithium-ion battery development and production. It is also developing its 3D cell technology and production process for the electric vehicle and energy storage markets to help enable the widespread utilization of renewable energy.
Present Market Standing of Enovix
- Trading volume stands at 1,661,539, with ENVX's price down by -0.52%, positioned at $9.5.
- RSI indicators show the stock to be is currently neutral between overbought and oversold.
- Earnings announcement expected in 58 days.
Expert Opinions on Enovix
A total of 3 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $23.666666666666668.
- An analyst from Cantor Fitzgerald has revised its rating downward to Overweight, adjusting the price target to $30.
- An analyst from EF Hutton downgraded its action to Buy with a price target of $24.
- Reflecting concerns, an analyst from Canaccord Genuity lowers its rating to Buy with a new price target of $17.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Enovix, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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